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India - Cloves - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

India - Cloves - Market Analysis, Forecast, Size, Trends and Insights

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Mar 1, 2023

India's Clove Price Reduces Significantly to $4,354 per Ton, Fluctuating Wildly over 2022

India Clove Import Price in November 2022

In November 2022, the clove price amounted to $4,354 per ton (CIF, India), shrinking by -20.3% against the previous month. Over the period under review, the import price recorded a deep slump. The growth pace was the most rapid in October 2022 an increase of 34% m-o-m. The import price peaked at $8,004 per ton in January 2022; however, from February 2022 to November 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In November 2022, the country with the highest price was Indonesia ($8,067 per ton), while the price for Sri Lanka ($4,089 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.1%), while the prices for the other major suppliers experienced a decline.

India Clove Imports

Clove imports into India surged to 671 tons in November 2022, picking up by 60% compared with the month before. Overall, imports, however, showed a deep downturn. The growth pace was the most rapid in September 2022 with an increase of 123% m-o-m. Over the period under review, imports reached the peak figure at 3.1K tons in April 2022; however, from May 2022 to November 2022, imports stood at a somewhat lower figure.

In value terms, clove imports soared to $2.9M (IndexBox estimates) in November 2022. In general, imports, however, saw a drastic downturn. The growth pace was the most rapid in September 2022 when imports increased by 132% month-to-month. Over the period under review, imports reached the peak figure at 22K tons in April 2022; however, from May 2022 to November 2022, imports stood at a somewhat lower figure.

India Clove Imports by Country

In November 2022, Comoros (410 tons) constituted the largest clove supplier to India, accounting for a 61% share of total imports. Moreover, clove imports from Comoros exceeded the figures recorded by the second-largest supplier, Madagascar (193 tons), twofold. The third position in this ranking was taken by Sri Lanka (43 tons), with a 6.4% share.

From January 2022 to November 2022, the average monthly rate of growth in terms of volume from Comoros totaled +5.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Madagascar (-16.9% per month) and Sri Lanka (-5.3% per month).

In value terms, Comoros ($1.7M), Madagascar ($866K) and Sri Lanka ($174K) were the largest clove suppliers to India, together accounting for 94% of total imports.

Factors Affecting Clove Prices

The Indian clove market is highly dependent on international prices, as the country is a major importer of this spice. The international market for cloves is quite volatile, and prices can fluctuate significantly based on supply and demand conditions.

Moreover, poor crop yields in major producing countries such as Tanzania and Indonesia have led to a shortage of supply, while increased demand from China has also put pressure on prices.

Lastly, local demand for cloves in India is also growing steadily, as more people are becoming aware of the spice's culinary and health benefits.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the clove market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 698 - Cloves

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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